Streaming giant, Netflix, has decided to pull out of Cannes Film Festival 2018 (Festival de Cannes), in light of festival organizers sudden change in festival rules: films that were not distributed in French Theaters are now banned from competing for "main prizes".

According to a interview given to Variety,Netflix Cheif content officer, Ted Sarandos, Netflix films like Okja, Mudbound and The Meyerowitz Stories, may not be taking seriously or mistreated in light of the new rules meant to cripple competition:

According to CNN Money, Theirry Fremaux, head of Cannes Film Festival, hoped Netflix would give movies submitted last year a theatrical release. While Netflix is not "traditional", it convenient and more accessible to consumers. Fremaux does not agree with Netflix's very business model, which, allows unlimited movie access to stream movies for a monthly price. The streaming service is of course, not "traditional". Netflix would could have films shown, but it would be out of competition. In France, there is also a law that says a film cannot be available for home consumption until 36 months after its theatrical release. Netflix usually does day-to-date releases, and this would essentially disqualify them from participating. Netflix releases films in the double and triple digits on their platform each year. Cannes Film Festival is set for May 8th through 19th this year.